Regent Investment Management LLC Has $4.78 Million Stock Position in McKesson Co. (NYSE:MCK)

Regent Investment Management LLC lowered its stake in McKesson Co. (NYSE:MCKGet Rating) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,655 shares of the company’s stock after selling 815 shares during the quarter. McKesson makes up approximately 1.3% of Regent Investment Management LLC’s investment portfolio, making the stock its 17th largest position. Regent Investment Management LLC’s holdings in McKesson were worth $4,781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in McKesson during the fourth quarter worth approximately $386,729,000. Aaron Wealth Advisors LLC boosted its holdings in shares of McKesson by 30,460.5% during the first quarter. Aaron Wealth Advisors LLC now owns 890,838 shares of the company’s stock worth $2,910,000 after acquiring an additional 887,923 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of McKesson by 360.8% during the first quarter. Acadian Asset Management LLC now owns 1,077,083 shares of the company’s stock worth $329,689,000 after acquiring an additional 843,348 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of McKesson during the first quarter worth approximately $99,472,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of McKesson by 53.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after acquiring an additional 320,588 shares during the period. Institutional investors and hedge funds own 86.43% of the company’s stock.

McKesson Price Performance

Shares of MCK stock traded down $6.26 on Friday, reaching $340.70. 10,984 shares of the company were exchanged, compared to its average volume of 1,041,585. The company has a market cap of $48.97 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 1.41 and a beta of 0.59. The company has a 50-day moving average of $351.78 and a 200-day moving average of $328.20. McKesson Co. has a one year low of $193.89 and a one year high of $375.23.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, August 31st. This is a boost from McKesson’s previous quarterly dividend of $0.47. McKesson’s dividend payout ratio is 22.83%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on McKesson from $378.00 to $409.00 in a research note on Monday, August 8th. Morgan Stanley upped their target price on McKesson from $370.00 to $403.00 and gave the stock an “overweight” rating in a research note on Monday, August 22nd. Mizuho upped their target price on McKesson from $331.00 to $345.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Robert W. Baird upped their price target on shares of McKesson from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Finally, Cowen upped their price target on shares of McKesson to $384.00 in a report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $352.46.

Insider Transactions at McKesson

In related news, EVP Lori A. Schechter sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the transaction, the executive vice president now owns 11,678 shares of the company’s stock, valued at approximately $4,016,531.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Thomas L. Rodgers sold 1,300 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $367.21, for a total value of $477,373.00. Following the transaction, the executive vice president now owns 2,544 shares of the company’s stock, valued at approximately $934,182.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lori A. Schechter sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the completion of the transaction, the executive vice president now directly owns 11,678 shares in the company, valued at approximately $4,016,531.32. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Company Profile

(Get Rating)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

Featured Articles

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.